Corning (NYSE:GLW) Shares Up 2.5% – Time to Buy?

Shares of Corning Incorporated (NYSE:GLW) traded up 2.5% on Thursday . The company traded as high as $155.75 and last traded at $147.7390. 8,322,763 shares were traded during trading, a decline of 33% from the average session volume of 12,440,776 shares. The stock had previously closed at $144.16.

Analysts Set New Price Targets

A number of equities research analysts have recently issued reports on the stock. China Renaissance raised shares of Corning from a “hold” rating to a “buy” rating and set a $238.00 price target on the stock in a report on Tuesday, September 8th. Truist Financial raised shares of Corning from a “hold” rating to a “buy” rating and reduced their price objective for the company from $205.00 to $175.00 in a research note on Sunday, August 2nd. UBS Group reaffirmed a “buy” rating and set a $196.00 target price on shares of Corning in a report on Wednesday, July 29th. JPMorgan Chase & Co. lowered their target price on shares of Corning from $200.00 to $170.00 and set a “neutral” rating on the stock in a research note on Wednesday, July 29th. Finally, Morgan Stanley cut their price target on shares of Corning from $180.00 to $165.00 and set an “equal weight” rating for the company in a report on Wednesday, July 29th. Twelve research analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $176.50.

Corning Stock Up 2.5%

The company has a fifty day moving average price of $155.96 and a 200 day moving average price of $166.17. The company has a market cap of $127.26 billion, a PE ratio of 67.46, a price-to-earnings-growth ratio of 1.83 and a beta of 1.16. The company has a debt-to-equity ratio of 0.59, a current ratio of 1.81 and a quick ratio of 1.24.

Corning (NYSE:GLW) last released its earnings results on Tuesday, July 28th. The electronics maker reported $0.78 earnings per share for the quarter, topping analysts’ consensus estimates of $0.76 by $0.02. The company had revenue of $4.74 billion during the quarter, compared to the consensus estimate of $4.63 billion. Corning had a return on equity of 20.09% and a net margin of 11.20%.Corning’s quarterly revenue was up 17.1% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.60 EPS. Corning has set its Q3 2026 guidance at 0.850-0.890 EPS. As a group, analysts anticipate that Corning Incorporated will post 3.28 EPS for the current year.

Corning Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, September 29th. Investors of record on Monday, August 31st will be issued a dividend of $0.28 per share. This represents a $1.12 dividend on an annualized basis and a yield of 0.8%. The ex-dividend date is Monday, August 31st. Corning’s payout ratio is currently 51.14%.

Insiders Place Their Bets

In other Corning news, EVP Lewis Steverson sold 13,100 shares of the business’s stock in a transaction on Friday, August 28th. The shares were sold at an average price of $151.29, for a total transaction of $1,981,899.00. Following the transaction, the executive vice president directly owned 15,052 shares of the company’s stock, valued at approximately $2,277,217.08. The trade was a 46.53% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.25% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Corning

Several hedge funds and other institutional investors have recently modified their holdings of GLW. Herbst Group LLC purchased a new stake in shares of Corning in the second quarter worth approximately $4,474,000. Principal Financial Group Inc. grew its position in Corning by 1.2% in the 1st quarter. Principal Financial Group Inc. now owns 893,451 shares of the electronics maker’s stock valued at $121,483,000 after acquiring an additional 10,591 shares during the last quarter. Wealthfront Advisers LLC increased its stake in Corning by 36.2% in the first quarter. Wealthfront Advisers LLC now owns 92,425 shares of the electronics maker’s stock worth $12,567,000 after purchasing an additional 24,589 shares during the period. Atlas Wealth LLC lifted its position in shares of Corning by 137.8% during the first quarter. Atlas Wealth LLC now owns 12,076 shares of the electronics maker’s stock worth $1,642,000 after purchasing an additional 6,998 shares during the last quarter. Finally, Silverlake Wealth Management LLC purchased a new stake in shares of Corning during the second quarter valued at $1,872,000. Hedge funds and other institutional investors own 69.80% of the company’s stock.

About Corning

Corning Incorporated (NYSE: GLW) is a global materials science and technology company that develops specialty glass, ceramics and optical fiber products. Founded in 1851 and headquartered in Corning, New York, the company combines expertise in glass science, ceramics science, optical physics and manufacturing to serve communications, consumer electronics, automotive, life sciences and other industrial markets.

Corning’s products include optical fiber, cable and hardware used in telecommunications networks; cover glass and other components for mobile devices, laptops and other electronics; display glass for televisions and computer monitors; emissions-control products for automobiles and trucks; laboratory vessels and equipment; and specialty glass and ceramic products for industrial, semiconductor and aerospace applications.

The company serves customers worldwide through manufacturing, research and commercial operations across North America, Europe and Asia.